Land near mall being sold to developer

HOLYOKE - Holyoke Gas & Electric's commissioners plan to sell a prime piece of real estate near the Holyoke mall to a West Hartford developer who has a retail tenant eager to locate there and create 145 jobs.

"We have an anchor tenant lined up," Jay Fisher, director of development for S. K. Properties Development Corp., said yesterday, adding, "There's actually been quite a number (of retailers) that have expressed interest."

S. K. Properties was one of two developers who submitted bids Friday to buy the land located near the Holyoke Mall at Ingleside. The other bid was submitted by O'Connell Development Group of Holyoke. O'Connell development submitted two proposals: one for $3 million, the other for $3.15 million.

Utility commissioner Raymond H. Feyre praised both developers before voting on the proposals. "We have to companies with two solid proposals before us," Feyre said.

O'Connell's proposal for $3 million was not contingent on a zone change for the property. But O'Connell's $3.15 million proposal and S. K. Property's accepted offer for $3 million are both contingent on the property being rezoned.

In order for a retail development to be built on the site, the prospective buyer must pursue a zone change for the property since it is zoned industrial.

Fisher would not disclose which retailer would serve as the anchor for the property or how large the retail facility would be on the site. But he did say the undisclosed anchor company would create 95 full-time jobs, 50 part-time jobs and pay more than $300,000 per year for power usage.

The permitting process is expected to take one year, Fisher said. After that, he said his company hopes to begin construction as soon as possible.